Category: Business News

FAA orders grounding of all Air Canada and Rouge flights in US lifted

Posted on By
Business News
A brief ground stop order for all Air Canada and Rouge flights in the US due to an unspecified computer issue has been lifted. A little after 11 am ET on Thursday, the US Federal Aviation Administration (FAA) ordered what’s known as a “ground stop” to all of the airline’s destinations in the US due to unspecified “internal computer issues.” According to the FAA, the order came at the request of the airline. Peter Fitzpatrick, a spokesperson for the airline, confirmed that the FAA directive was lifted after about an hour, and that all systems are returning to normal. “Air…

Google, Meta executives push back against Canada online news bill

Posted on By
Business News
[1/2] A Google logo is displayed at the entrance to the internet based company’s offices in Toronto, Ontario, Canada September 9, 2018. REUTERS/Chris Helgren TORONTO, May 3 (Reuters) – Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc (GOOGL.O) and Facebook parent Meta Platforms Inc (META.O) to negotiate commercial deals and pay Canadian news publishers for their content, part of a broader global trend to make tech firms pay…

Berkshire Hathaway shareholder meeting takeaways: Warren Buffett’s remarks

Posted on By
Business News
Warren Buffett, chairman and CEO of Berkshire Hathaway, criticized the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis. Yet he said the US banking system had become too complicated — and it was not surprising that the banks failed. He said he’d been selling bank stocks, first at the start of the pandemic and more recently over the past six months as banks increasingly face mismanagement and respond to bad incentives. “The American public doesn’t understand their banking system — and some people in Congress don’t understand it anymore…

Important team and business changes

Posted on By
Business News
Team – We are changing the shape of Shopify significantly today to pay unshared attention to our mission. There are a number of consequences to this, and I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today. I recognized the crushing impact this decision had on some of you, and did not make this decision lightly. In the next 5 minutes you’ll get a follow up that tells you if you are affected. There’s no way to make this…

Prices, digital growth benefits Walmart

Posted on By
Business News
BENTONVILLE, ARK. — Lower prices compared to competitors and convenience brought about through digital capabilities lifted Walmart US to same-store sales growth of 7% in the first quarter ended April 30. The growth was due to higher store traffic trends as well as growth in store-fulfilled pickup and delivery, said John D. Rainey, chief financial officer, in a May 18 earnings call. “From a category perspective, comp sales were driven by strong growth in food and health and wellness, partially offset by a decline in general merchandise sales,” he said. E-commerce sales increased 27% in the United States when compared…